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History: Home UK Divorce Forum
Topic:
Financial settlement worry (8 Posts)
Started By:
Date:
20 January, 2018 02:21PM
Financial settlement worry
Worried_sick - 20 January, 2018 02:21PM
Hi,

I'm respondent in divorce. STBX and I have exchanged form Es through solicitors.

In short, she wants home to be signed over to her in her name, spousal support and a share of my pension. This has stressed me out, because not long ago she verbally offered to buy my share (50%) of matrimonial residence. Based on what I have written below, does she have a strong case?

Basic details. 10 year marriage, 2 kids between ages of 4 and 10. I'd like to have kids with me 30-40% of time after divorce.

My assets :
125k in home (50% value)
39k savings
49k pension

My net income per month 3k (full time salary)

Her assets
125k in home
80k savings
Pension that she hasn't disclosed value of (12 years of service)
200k other property

Her net income per month is 4.2k (this is with a part time salary).

Our outgoings are broadly similar.

I am worried sick! I don't want to be broke and destitute.
Re: Financial settlement worry
HatMan - 21 January, 2018 07:23AM
In broad term there is about £600K of mutual assets, she has good earning ability and will continue to care for the children for the majority of the time.

a) She needs to declare her pension value before you can move forward

b) She will get a bigger share than you because of child care arrangements

c) You are not going to be walking out of this with nothing
Re: Financial settlement worry
davidterry - 21 January, 2018 12:09PM
>>200k other property

What is this other property?
Re: Financial settlement worry
Worried_sick - 21 January, 2018 02:02PM
Hi,

Thanks for all the replies.

STBX owns another small property in another city that she rents out.

Thank you for your help.
Re: Financial settlement worry
HatMan - 21 January, 2018 04:34PM
Well that is in the pot - along with her pension ...not just yours.
Re: Financial settlement worry
davidterry - 21 January, 2018 06:09PM
Then the notion that the matrimonial home should just be signed over to her is fanciful. She earns more than you do, she has more savings than you do and she has another property. Regardless of whether there are dependent children or not what your wife is proposing is unfair. If she wants the property signed over to her she should pay you half of its net value and she has the means to be able to do that.
Re: Financial settlement worry
Worried_sick - 22 January, 2018 01:14PM
Thank you all.. very helpful.

Here is hoping that STBX will be reasonable and not force this into courts.

Again. Thank you.
Re: Financial settlement worry
davidterry - 22 January, 2018 05:24PM
>>Here is hoping that STBX will be reasonable and not force this into courts.

Bearing in mind what she wants that seems unlikely. From your point of view it makes economic sense to make a court application because the cost of legal proceedings is likely to be much less than you stand to gain.
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